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Grants Pass council clears readings to launch $65 million water revenue bond plan
Summary
Council approved ordinance readings authorizing water‑revenue bonds to finish the city’s water‑treatment plant, with staff estimating roughly $65,000,000 in net resources and a 30‑year repayment expectation. The Urban Renewal Agency agreed to an IGA to formalize support; council stressed timing to avoid construction delays.
The Grants Pass City Council voted Dec. 17 to advance an ordinance authorizing the issuance of water revenue bonds to fund completion of the city’s water treatment plant.
City staff presented financing options and said the capital project will require a bond offering that “provides net resources of approximately $65,000,000,” to be backed by water utility rates. The presentation explained that market conditions will determine the final interest rate, that payments are…
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